Volvo Cars appoints Škoda CEO Klaus Zellmer as CEO — TimesLIVE
Sweden-based Volvo Cars has appointed Škoda brand CEO Klaus Zellmer as its future president and CEO. He is due to take up the position no later than October 1, 2027, TimesLIVE reports.
Leadership change
Zellmer will replace Håkan Samuelsson, who was reappointed to lead Volvo Cars in 2025 to restore the automaker's position. Samuelsson previously headed the company from 2012 to 2022. Last week, he said he did not plan to work full-time after his contract ends in April.
Klaus Zellmer has more than 30 years of experience in the automotive industry. Most recently, he was CEO of the Volkswagen-owned Škoda brand. Volvo Cars Chairman Li Shufu said Zellmer has substantial experience managing companies during periods of transformation and changing market conditions. According to him, the new leader's experience in both the premium segment and mass-market brands meets Volvo Cars' needs.
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Tariffs and falling sales in China
Volvo Cars, whose controlling stake is owned by China's Geely Holding, is trying to restore sales amid intensifying competition. The company has failed to meet its profitability targets because of tariffs, weaker demand for electric vehicles and high development costs.
At a recent strategy event, Samuelsson presented a plan to launch 13 new models by 2030 and double Volvo Cars' market share. At the same time, the automaker is facing the effects of US tariffs and falling sales in China. The company also has to separate its Western and Chinese technologies to maintain sales in the United States, where its related brand Polestar faces a sales ban.
Volvo Cars shares have fallen by more than 45% since the beginning of the year and are trading near record lows. Cost cuts have partly eased pressure on profits. Demand for the new flagship EX60 electric SUV exceeded the company's initial expectations, but sales in the United States and China remain under pressure. Volvo Cars is also working on changing production to better protect itself from tariffs: in particular, it is moving production of the hybrid XC60 to South Carolina and increasing EX30 output at its plant in Belgium.
